Industrial property values in Pennsylvania’s eight largest markets rose 6.9% to 15.7% over the past three years. Lancaster saw the biggest jump at 15.7%. Limited new construction and strong demand for warehouse space drove prices higher. Developers added just 3 million square feet of space, a 3.3% increase in supply—about half the growth rate of… Read more »
The volume of industrial sublease space in Lehigh Valley, Pennsylvania has notably increased this year, more than doubling from 3.9% in the first quarter to 8.8% by the end of November. This mirrors a larger national pattern, where industrial sublet availability has risen from 7.2% to 10% over the same period. Initially, pandemic-driven demands for… Read more »
In an improving economy, industrial property can change hands frequently. In a declining one, industrial property owners may be forced to wind up operations and close the facility. If you own or intend to purchase or shut down an industrial facility in New Jersey, pay particular attention to the provisions contained in the state’s Industrial Site Recovery… Read more »
